The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle
Indicate whether the statement is true or false
False. This describes the slope of the indifference curve. The slope of the budget line represents the rate at which the consumer must trade one good for another at any given bundle.
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How did international policy coordination contribute to the avoidance of an economic depression in 2008 - 2010?
What will be an ideal response?
Which of the following statements is correct about the roles of economists?
a. Economists are best viewed as policy advisers. b. Economists are best viewed as scientists. c. In trying to explain the world, economists are policy advisers; in trying to improve the world, they are scientists. d. In trying to explain the world, economists are scientists; in trying to improve the world, they are policy advisers.
When disposable income is 6,000, consumption is
A. 4,000.
B. 4,500.
C. 5,000.
D. 5,500.
If every person is willing to accept money in payment, rather than goods and services, money serves as a:
A. medium of exchange. B. unit of account. C. store of value. D. coincident exchange.